Permaju Industries may trend higher after it formed another white candle and breached above the MYR0.45 threshold. This close has sent the stock to its new 52-week high, thereby enhancing the positive sentiment. A bullish bias may emerge above the MYR0.45 level, with an exit set below the MYR0.395 threshold. Towards the upside, the immediate resistance is at MYR0.50. This is followed by the MYR0.55 level.

Source: RHB Securities Research - 20 Mar 2019